Cinven

Cinven

Type	Private
Industry	Private Equity
Founded	1977
Headquarters	London, United Kingdom
Key people	Stuart McAlpine, Managing Partner
Products	Private Equity
Website	www.cinven.com

Cinven is a global private equity firm founded in 1977 with offices in 9 international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and US-based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more.^[1] In 2014, it had €11.5 billion in assets under management.^[2]

Cinven’s funding base originally came solely from three UK pension funds (British Coal, the Railway Industry and Barclays Bank) who remain as important investors.^[3] Cinven has been reported to originally stand for Coal Investment Nominees' for Venture Capital.^[4]

Cinven invests in six sectors on an international basis: Business Services; Technology, Media and Telecommunications; Financial Services; Industrials; Healthcare; and Consumer.

Investments

Cinven is a private equity firm based in London. Some of the recent acquisitions include:

• Avio – In 2006, Cinven purchased Avio from Carlyle and Finmeccanica for an enterprise value of $2.6 billion.
• Spire Healthcare (previously BUPA Hospitals) – In June 2007, BUPA announced that it had agreed to sell its hospitals business, comprising 25 hospitals, to Cinven for $1.44 billion ($2.8 billion/$2.13 billion).^[5] Spire has since acquired the Classics Hospital Group for GBP 145 million, as well as a single site hospital in Gerrards Cross, England.
• Gondola Holdings – acquired in 2007 for $1.36 billion, Gondola is the market leader in the UK casual dining sector, with brands such as PizzaExpress, ASK, Zizzi and BYRON.^[6]
• SLV – acquired in April 2011, SLV is a provider of residential and technical lighting products
• Partnership Assurance – acquired in 2008^[7]
• Sebia – acquired in June 2010
• CPA Global – acquired in March 2012
• AMCo – Created from Amdipharm and Mercury Pharma bought in 2012, merged, built up and sold to Canada's Concordia Healthcare in September 2015 for $3.4 billion in cash and shares.^[8]
• CeramTec Group – acquired in June 2013^[9]
• Host Europe Group – acquired in July 2013, Cinven agreed to purchase this web hosting firm for around $666 million.^[10]
• Medpace – In February 2014, Cinven agreed to acquire the pharmaceutical contract research organisation from CCMP Capital for around $900 million.^[11]
• Northgate Public Services – In December 2014, Cinven agreed to acquire the public services division of Northgate Information Solutions for an undisclosed amount.^[12]
• Labco – In May 2015, Cinven agreed to acquire this operator of medical diagnostics laboratories for €1.2 billion.^[13]
• Synlab Group acquired in June 2015 for 1.7-1.8 billion euros. ^[14]
• Kurt Geiger - In December 2015, Cinven acquired UK-based fashion retailer Kurt Geiger from Sycamore Partners for £245 million.^[15]

References

1. Cinven, About us, Cinven website, retrieved April 2, 2016
2. 2014 in Brief, Cinven website, retrieved April 2, 2016
3. The fourth Cinven fund completes fundraising at $6.5 billion, Cinven press release,30 June 2006
4. Cinven looks to rejoin industry's top league. Dow Jones Financial News, September 8, 2008
5. BUPA agrees hospitals sale, BUPA press release, 18 June 2007
6. byronhamburgers.com
7. "Cinven to kick-start £750m Partnership Assurance sale". The Telegraph. 17 September 2011. Retrieved 13 September 2013.
8. Cinven to sell AMCo to Concordia Healthcare Corp, Private Equity Wire, St Helier Jersey, 8 September 2015.Retrieved: 19 September 2015.
9. The New York Times Dealbook: Cinven to Buy CeramTec for $2 Billion. By Mark Scott, 2013-06-16
10. Reuters (19 July 2013). "Deals of the day -- mergers and acquisitions". Reuters.
11. "Cinven to acquire Medpace in $900 million deal". Reuters. 23 Feb 2014. Retrieved 24 Feb 2014.
12. "Northgate Information Solutions sells Public Services division to Cinven". Yahoo! Finance. 22 Dec 2014. Retrieved 22 Dec 2014.
13. Berry, Freya (28 May 2015). "Buyout group Cinven to buy France's Labco for $1.3 bln". Reuters.
14. "Cinven buys lab chain Synlab for $1.9-2.0 billion". Reuters. 25 June 2015. Retrieved 29 October 2016.
15. Grandhi, K (2015-12-14). "Footwear retailer Kurt Geiger acquired by Cinven from Sycamore Partners". International Business Times. Retrieved 2016-06-21.

External links

• Official website